JP/1/SBI

BI benchmark rate down again: The interest rate of Bank Indonesia one-month SBI promissory notes decreased by 27 basis points to 11.97 percent at a weekly auction on Wednesday from 12.24 percent the previous week. The central bank has been guiding the benchmark interest rate lower since the beginning of 2002 amid easing inflationary pressure. A lower interest rate environment is expected to help push new bank lending and ease the government's burden in covering the interest of bank recapitalization bonds.